The investors are planning to bring mixed use development in the area, a prime lot near the City College of Naga and adjacently located to the site of the proposed TESDA Hub along Almeda highway.
A family of businessmen in Daet, Camarines Norte is investing a multimillion-peso commercial complex in a 9.5 hectare of land located in one of the city’s new growth corridors.
To be called the Naga Global Business Park, the site will come as the newest center of commerce and trade in the city with an estimated total manpower complementation of 1,000 to 1,500 people.
Mayor Nelson Legacion, in his message during the project’s ground breaking ceremony, said the business venture is expected to bring employment opportunities to the Nagueños aside from boosting further the city’s socio-economy.
With the upsurge of big, medium and small enterprises that dominate the city’s trade and commerce, Naga has gained its popularity as the center of economic and business activities in the entire Bicol region.
Nowhere in Bicol can one find large businesses ranging from retailing to wholesaling, manufacturing and processing and other services such as entertainment, resorts, movie houses, restaurants, and financing institutions like banks and insurance companies, but in Naga City.
Zeni L. Yao, chairman of Lautan Luas, Inc., said the development master plan “of the dream project” outlines the establishment of residential and commercial buildings and other facilities that are responsive to the need of the public.
The company’s chairman emeritus is Zeni’s husband Joseph Yao, of J. Yao Brothers Trading with Jerson and Joel Yao.
“We shall be putting up a leisure, entertainment and recreation facilities here, a supermarket, a business process outsourcing company, a bagsakan of native and fruit products (e.g. the Davao pomelos and Baguio strawberries), a residential building, a restaurant like the Dampa in Cubao and many more,” she said.
Jandrick Arvin Yao, son of Joseph and Zeni, who is also the company’s president, said that although they do not have the date yet as to when the construction works would start, he guessed that two or three years are not enough to see the entire Park fully operational.
The family along with Mario Villanueva, president of Metro Naga Chamber of Commerce and Industry (MNCCI) and president of the Naga College Foundation, thanked Mayor Nelson Legacion and the Naga City Investment Board for inviting the Yaos to put up the business venture in the city.
From 2019, when Legacion began his first term in office, the Naga City government was able to establish five new growth areas: the Balatas New Development Area; the Sta. Cruz New Development Area; Carolina Development Area; the People’s Park and Recreation Center in Barangay Mabolo; and the area in Almeda Highway in Brgy. Concepcion Pequeña where the Naga Global Business Park will rise.
Johan Yao, a director of the company, said that everyone can look forward to see modern architecture in the edifices that they are going to construct especially the grand market.